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IFT 2026 and 2029

An interesting pair of bonds on offer , one for 7 years at 3.35% and the other for 10​ years but it resets every year after the first 18 months so if you're happy with a margin over the 1 year swap rate of 2.5% its got no major duration risk. It can still go to 0 of course but not below.

The 10 year bond is reset each year in December (after the first 15 months), with a margin of 2.5% - but they said it would not go lower than 2.5% even if the swap rate went under 0%.
Not enough to interest me this time.

The 10 year bond is reset each year in December (after the first 15 months), with a margin of 2.5% - but they said it would not go lower than 2.5% even if the swap rate went under 0%.
Not enough to interest me this time.

yes thanks for correcting me on that Grimy - it cant go to 0 even if 1 yr swap rate goes below 0

weird times we live in that we have to consider interest rates going negative!!